Coinbase has established a grip in the cryptocurrency space, remaining one of the attractive destinations for investors intending to take part in the

Coinbase verified users projected to grow by 30% in 2021 to hit over 70 million

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2021-06-22 15:00:06

Coinbase has established a grip in the cryptocurrency space, remaining one of the attractive destinations for investors intending to take part in the digital currency space. Consequently, the exchange is expected to continue recording an influx of more users.

According to data analyzed by Finbold, Coinbase verified users are projected to hit 72.8 million by the end of 2021. The projection is based on an analysis of the exchange’s verified user growth rate over the last three years and several fundamental factors that will be mentioned later in our article.

Based on the projection, the exchange verified users would grow by 30% from the 56 million recorded as of Q1 2021, resulting in 16.8 million new users by Q4, 2021. In 2020, Coinbase had 35 million verified users, while in 2019, the figure was at 30 million. Since opening its business in 2012, Coinbase attained the one million users milestone in 2014.

The number of verified users reflects Coinbase’s position as one of the most popular crypto exchanges in the United States with an array of listed digital currencies. Notably, the company has gained prominence based on good security measures, having recorded no hacking incidents, unlike competitors.